President Obama, South Korean President to visit GM to promote free trade pact

President Barack Obama and South Korean President Lee Myung-bak both paid a visit to General Motors’ Orion Township assembly plant last Friday in order to promote a free trade agreement. The plan is said to potentially stimulate exports of US made products to South Korea, Colombia and Panama.

The plan calls for cutting South Korea’s taxes and tariffs on imported vehicles, which could stimulate sales of the American automobile industry to other countries, specifically South Korea.

“This levels the playing field,” said Gene Sperling, director of the National Economic Council. “It cuts the tariff in half. It took down non-tariff trade barriers. We feel absolutely confident this will increase the sale of cars made in the U.S.”

According to sources, the UAW supports the House of Representative’s and Senate’s passed legislation. However, word is that other unions have expressed concerned that any job increases could be offset by layoffs in the US from increased competition of South Korean imports.

“If Americans can buy Kias and Hyundais, I want to see folks in South Korea driving Fords and Chevys and Chryslers,” Obama said last month. “I want to see more products sold around the world stamped with the three proud words: ‘Made in America.’.”

– By: Chris Chin

Source: Free Press

Chris Chin

Editor-In-Chief of egmCarTech Freelance Automotive Journalist / Editor / Photographer

admin has 4401 posts and counting.See all posts by admin


Steering Wheel Beige DIY PU Leatherette Leather Cover & Needle for Audi BMW Benz picture
Steering Wheel Beige DIY PU Leatherette Leather Cover & Needle for Audi BMW Benz
Car Steering Wheel Back Seat Tray Table Desk Mount for Tablet PC Laptops Books picture
Car Steering Wheel Back Seat Tray Table Desk Mount for Tablet PC Laptops Books
Car Steering Wheel Back Seat Tray Table Desk Mount for Tablet PC Laptops Books picture
Car Steering Wheel Back Seat Tray Table Desk Mount for Tablet PC Laptops Books
Kimpex Idler Wheel w/Bearing Arctic Cat Yamaha Ref 3604-042 3604-039 Pair 03-17 picture
Kimpex Idler Wheel w/Bearing Arctic Cat Yamaha Ref 3604-042 3604-039 Pair 03-17
ducati hypermotard ducati 999 ducati 996 ducati 1199 ducati 916 wheel bike rims picture
ducati hypermotard ducati 999 ducati 996 ducati 1199 ducati 916 wheel bike rims